Quantbot Technologies LP Decreases Holdings in Magnolia Oil & Gas Corp $MGY

Quantbot Technologies LP lessened its stake in shares of Magnolia Oil & Gas Corp (NYSE:MGY) by 46.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,682 shares of the company’s stock after selling 107,615 shares during the period. Quantbot Technologies LP owned 0.06% of Magnolia Oil & Gas worth $2,780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Magnolia Oil & Gas by 236.2% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,190 shares of the company’s stock valued at $27,000 after buying an additional 836 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Magnolia Oil & Gas during the 2nd quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in Magnolia Oil & Gas by 98.6% in the 2nd quarter. GAMMA Investing LLC now owns 5,009 shares of the company’s stock valued at $113,000 after acquiring an additional 2,487 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Magnolia Oil & Gas by 34.3% in the 1st quarter. Smartleaf Asset Management LLC now owns 5,072 shares of the company’s stock worth $128,000 after purchasing an additional 1,295 shares in the last quarter. Finally, State of Wyoming lifted its stake in Magnolia Oil & Gas by 8.2% in the 1st quarter. State of Wyoming now owns 5,777 shares of the company’s stock worth $146,000 after purchasing an additional 440 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho lifted their price objective on Magnolia Oil & Gas from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. William Blair began coverage on Magnolia Oil & Gas in a research note on Monday, August 25th. They issued an “outperform” rating for the company. KeyCorp set a $29.00 price target on Magnolia Oil & Gas and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Magnolia Oil & Gas in a research report on Wednesday, October 8th. Finally, Piper Sandler dropped their price objective on shares of Magnolia Oil & Gas from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Magnolia Oil & Gas presently has a consensus rating of “Hold” and a consensus target price of $26.25.

Magnolia Oil & Gas Stock Performance

NYSE MGY opened at $23.39 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $4.41 billion, a P/E ratio of 13.07, a P/E/G ratio of 3.16 and a beta of 0.93. The stock has a 50-day moving average of $23.03 and a two-hundred day moving average of $23.33. Magnolia Oil & Gas Corp has a 1-year low of $19.09 and a 1-year high of $26.92.

Magnolia Oil & Gas (NYSE:MGY) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Magnolia Oil & Gas had a net margin of 25.90% and a return on equity of 18.10%. The business had revenue of $324.94 million during the quarter, compared to the consensus estimate of $322.52 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, analysts anticipate that Magnolia Oil & Gas Corp will post 2.1 EPS for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 10th were issued a $0.15 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 2.6%. Magnolia Oil & Gas’s dividend payout ratio is presently 33.52%.

Magnolia Oil & Gas Company Profile

Magnolia Oil & Gas Corp. engages in the acquisition, development, exploration, and production of oil and natural gas properties. It operates assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company was founded on February 14, 2017 and is headquartered in Houston, TX.